Which Type of Power of Attorney Fits Your Needs?

Depending on the type of power of attorney you have, are are looking into having granted can differ from case to case. Not all power of attorneys are the same, and hardly ever does one match another. For instance, some people will get a power of attorney if they are going to be away for a long time, others may get a power of attorney if they are mentally incompetent of making important decisions that must be made.

Common options when finding the best type of power of attorney are:

  • General or durable power of attorney: loan-applicationOften a more broad power of attorney, a general power of attorney can grant another individual to perform nearly every decision or sign any document as if the principal was present. General or durable power of attorney will remain in effect even after the principal party is mentally incompetent of making decisions for their self.
  • Specific or limited power of attorney: A more limited, or specific power of attorney limits the terms of the person acting as power of attorney. It may limit the powers to a specific occasion or transaction. Once that action or transaction has been performed, the power of attorney is terminated. A limited power of attorney may also be used if your child or other in which you have full guardianship over will be under another party’s care for a specified amount of time. For example if your child goes on vacation with a friend, you may grant the parents of that friend power of attorney for certain actions, such as signing medical documents if they need emergency medical care while away.

To determine which power of attorney is best for your need, be sure to contact Attorney Michael Colton for guidance. Contact Colton Probate Law for your free consultation.

 

 

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